In 2025, the Kryvyi Rih Iron and Steel Works PJSC ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk region) was quite successful in selling metal products on the EU market, but now, due to CBAM and electricity shortages, it is reducing production and operating at a loss.
As AMKR Director of Government Relations Oleg Krykavsky noted during the event “How does the shelling of the power grid affect business operations?” organized by the Center for Economic Strategy (CES), the fact that the company is part of a large multinational corporation helps it to operate and stay afloat.
“We were helped by the fact that we received more than $1 billion in aid from a multinational corporation, which was used to keep the company running. Currently, the company is operating at an average of 50% of its capacity. We were quite successful in the EU market last year, partly thanks to the government’s actions, as a good agreement was reached with the European Union to extend duty-free trade for another three years. In 2025, we exported 1.2 million tons of metal products to the European market, down from 3 million tons. But because of the CETA, our costs are rising, which means we will have to close one workshop – the blooming shop,” said the top manager.
He added that AMKR is at a disadvantage compared to European producers under CETA, as it will have to pay $63-90/ton, depending on the type of product. Also, electricity tariffs are high, and electricity import contracts are very short.
“We had several cases where we did not meet the electricity consumption volumes, and our trader sold it on the market for UAH 0. Not only did we not receive what we bought, but we were also forced to reduce production, which resulted in direct losses. And, of course, we are in dialogue with the government on this issue,” the company explained.
Responding to a question about equipment arrivals, Krykavsky noted that the equipment works during alarms. But there are losses due to emergency situations, and they are painful. Under normal conditions, the enterprise consumes 400 MW*h, but due to restrictions, we now consume 230-250 MW*h, and there are limits of 70 MW*h.
“That is, the rest is peak hours, and you have to think about what to do with that. Usually, you think about importing, because you have to work somehow. Plus, you can’t fire people for five to seven hours without paying them. People get paid at work, so you have to work,” said the AMKR representative.
He added that there was a case at the enterprise when a coke battery was damaged due to a power outage caused by a network failure.
“We are investigating who is to blame for this. But one coke battery burned down. A coke battery is, in essence, a chemical process, which means it cannot be stopped. We have installed industrial generators for such cases, but even they need 16 hours or more to start up,” the manager explained.
With half of its capacity in operation, the company is trying to cover some capacities with others, while repairing something that is idle so that it can be started up at some point.
“We are thinking about our own generation, about cogeneration. There are limited resources and limited potential. It is very expensive. But we are working on it in parallel; we have our own CHP plants and technologies today that allow us to do this. But we are a large enterprise and require large capacities,” summarized the AMKR director for relations with state authorities.
ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular, rebar and wire rod. The company has a full production cycle, with production capacities designed for an annual output of over 6 million tons of steel, more than 5 million tons of rolled products, and over 5.5 million tons of pig iron.
ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.
The Kryvyi Rih Mining and Metallurgical Plant PJSC ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk region) spent nearly UAH 57 million on social projects and charitable assistance in 2025.
According to the company’s press release on Monday, throughout 2025, AMKR continued to implement social and charitable initiatives aimed at supporting local communities, veterans, families of deceased employees, and victims of war.
A significant part of the aid during the war consists of direct payments and support for employees and their families: UAH 25 million was allocated to the families of deceased employees, and another UAH 5.9 million was allocated to help employees who suffered as a result of enemy shelling. The amount of funds allocated by the company to charitable projects amounted to more than UAH 9.2 million. Key social and charitable projects in 2025 include: renovation of the urology department of the First City Hospital; assistance in the development of border infrastructure; support for the Kryvyi Rih City Museum of Local History in the creation of a Memorial Bell Tower dedicated to the fallen defenders of Ukraine.
A separate and priority area of AMKR’s social work remains support for veterans and military personnel, as well as their families. In 2025, the Coordination Center continued its work, providing information and consulting support to demobilized employees. During the year, 97 individual interviews were conducted with veterans. For prompt information and communication with veterans, the Telegram channel “AMKR Veteran” is in operation, which had 254 subscribers by the end of the year.
The company maintained its supplementary health insurance program, which includes sanatorium and resort treatment, dental services, and psychological support. In 2025, 71 veterans underwent treatment and rehabilitation, 19 of whom received sanatorium and resort treatment. Dental care (emergency, routine, prosthetics, and implants) was provided to 69 people. Free physiotherapy procedures continued to be provided to military personnel and demobilized employees. In addition, in 2026, social benefits in the form of a 10% discount on meals in the company’s canteens continued to be provided.
An important area of work remains the adaptation and creation of jobs for veterans. In 2025, five jobs were created taking into account the individual needs of veterans, and one job was adapted for an employee with a Group II disability. The company continues to implement inclusive practices, in particular, ensuring the accessibility of workplaces, flexible working conditions for employees undergoing treatment or rehabilitation, as well as training managers and teams to work with veterans and people with disabilities.
AMKR also cooperates with the employment center to obtain compensation for the adaptation of workplaces for persons with disabilities. In 2025, the company received compensation for the actual costs of adapting a workplace for a veteran employee with a Group II disability. In addition, cooperation continues with the municipal non-profit enterprise “Service Office ”Veteran.”
Supporting communities, veterans, families of the deceased, and socially vulnerable groups remains an important part of AMKR’s responsibility to the city and the country, especially in the context of the ongoing war.
AMKR CEO Mauro Longobardo stated that since the beginning of the war, the company has allocated approximately UAH 767 million to social and charitable initiatives.
“Supporting our people remains an unconditional priority for us. In particular, during this period, UAH 119.40 million was allocated to the families of deceased employees, and another UAH 11.39 million was allocated to help employees who suffered as a result of enemy shelling,” said the CEO, adding that the company is operating in extremely difficult conditions.
As reported, in 2025, AMKR increased its tax and fee payments to budgets at all levels by almost 28% compared to 2024, to UAH 8.5 billion. Of this amount, UAH 1.8 billion went to the state budget and UAH 2.6 billion to local budgets.
ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular, rebar and wire rod. The company has a full production cycle, with production capacities designed for an annual output of over 6 million tons of steel, more than 5 million tons of rolled products, and over 5.5 million tons of pig iron.
ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.
The European Bank for Reconstruction and Development (EBRD) has granted another loan of up to $200 million to the Kryvyi Rih Mining and Metallurgical Plant PJSC ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk region) to replenish working capital for the plant’s operations.
According to the EBRD, a senior loan of up to $200 million has been granted to the Ukrainian joint-stock company AMKR, whose controlling stake is owned by the ArcelorMittal group.
It is specified that the loan was approved on December 3, 2025.
It is noted that the loan will be used to finance the company’s working capital needs to ensure continuity of operations in Ukraine when operations are affected by the war. The project will expand access to market-relevant training and employment opportunities for veterans and people with disabilities in line with the company’s priorities for human capital recovery.
It is also added that the Bank is providing financing in the extraordinary circumstances caused by the war in Ukraine, with a unique set of terms, attributes, and provisions. The project is also gender-additive in line with new commitments to expand access to training for young women through AMCR’s flagship New Factory initiative on youth inclusion.
As reported, on November 26, 2025, the AMCR Supervisory Board approved a significant transaction—a loan from the EBRD.
At the same time, the market value of the property or services that are the subject of the transaction is determined in accordance with the law – no more than $200 million (8480300 thousand UAH at the NBU exchange rate as of 11/26/2025); the value of the issuer’s assets, according to the latest annual financial statements, is UAH 51,725,655 thousand; The ratio of the market value of the property or services that are the subject of the transaction to the value of the issuer’s assets, according to the latest annual financial statements (in percent) – 16.3947658082%.
ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular, rebar and wire rod. The company has a full production cycle, with production capacities designed for an annual output of over 6 million tons of steel, more than 5 million tons of rolled products, and over 5.5 million tons of pig iron.
ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.
In 2025, the Kryvyi Rih plant increased its production of 6% moisture coke by 16.4% to 1 million 460.3 thousand tonnes. This allows it to meet its own needs for main production.
At the same time, the mining department, whose work depends on a stable power supply, showed a decline:
– Iron ore concentrate production fell by 3.3% to 7.56 million tonnes.
– Iron ore mining decreased by 4.2% to 18.4 million tonnes.
Management explained this as a direct result of energy supply restrictions caused by attacks on infrastructure, which caused the mining complex to operate below pre-war levels.
ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specialises in the production of long products, in particular, rebar and wire rod. The company has a full production cycle, with production capacities designed for an annual output of over 6 million tonnes of steel, more than 5 million tonnes of rolled products and over 5.5 million tonnes of pig iron.
ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.
Pig iron smelting at the ArcelorMittal Kryvyi Rih plant increased by 16.9% in 2025, reaching 2 million 534.6 thousand tonnes. This is the largest increase among all the main types of products manufactured by the company.
Despite this, CEO Mauro Longobardo noted that the plan was to operate two blast furnaces continuously, but this was not possible due to the war. Production remains adaptive and depends on energy supplies and the market situation.
The key objective of the company remains to preserve production capacity and jobs for the future reconstruction of the country.
ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specialises in the production of long products, in particular, rebar and wire rod. The company has a full production cycle, with production capacity designed for an annual output of over 6 million tonnes of steel, more than 5 million tonnes of rolled products and over 5.5 million tonnes of pig iron.
ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.
In 2025, AMKR increased steel production by 2.3% to 1 million 688.9 thousand tonnes. This is the second consecutive year of positive dynamics after a sharp recovery in 2024.
The growth was made possible by the team’s efforts to stabilise the operation of key units in wartime conditions. However, as noted by management, production operated with restrictions due to unstable power supply and the need for constant re-planning of work due to attacks on the power grid.
At the end of the year, the EU’s Carbon Border Adjustment Mechanism (CBAM) put additional pressure on export-oriented production, the effects of which the company expects to feel as early as 2026.
ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specialises in the production of long products, in particular, rebar and wire rod. The company has a full production cycle, with production capacities designed for an annual output of over 6 million tonnes of steel, more than 5 million tonnes of rolled products and over 5.5 million tonnes of pig iron.
ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.
